{"id":13585,"date":"2012-08-17T02:51:45","date_gmt":"2012-08-17T00:51:45","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/euro-coal-prices-steady-market-watches-colombia-strikes\/"},"modified":"2012-08-17T02:51:45","modified_gmt":"2012-08-17T00:51:45","slug":"euro-coal-prices-steady-market-watches-colombia-strikes","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-prices-steady-market-watches-colombia-strikes\/","title":{"rendered":"Euro Coal-Prices steady, market watches Colombia strikes"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* October DES trades unchanged at $93.50\/T<\/span><\/p>\n

<\/span><\/p>\n

* Colombia Fenoco unions yet to return to work<\/p>\n

<\/span><\/p>\n

LONDON<\/span> Aug 16 (Reuters) – Physical European prompt coal
\nprices were unchanged at around $93-$94 a tonne for a second day
\non Thursday as the market waited to see when Colombian shipments
\nwould resume and whether that would trigger a bout of selling
\nand a further price fall.<\/p>\n

<\/span><\/p>\n

Prices dropped by $2 a tonne on Tuesday after a Colombian
\ncourt ruled that a strike by workers on the Fenoco railway was
\nillegal and the workers voted to return to work, but the union
\nis waiting for the Labour Ministry to confirm whether the vote
\nwas legal or not.<\/p>\n

<\/span><\/p>\n

Mine workers at Colombia’s La Jagua mine, owned by
\nGlencore’s Prodeco unit, are still on strike after 28 days, but
\nProdeco could start moving coal from the Calenturitas mine once
\nthe railway resumes normal operations.<\/p>\n

<\/span><\/p>\n

So far, as much as 4 million tonnes is estimated to have
\nbeen lost from Colombia’s 2012 exports, according to industry
\nsources.<\/p>\n

<\/span><\/p>\n

Fenoco is owned by the producers for whom it moves coal to
\nport – Drummond, Prodeco and Goldman Sachs
\n.<\/p>\n

<\/span><\/p>\n

“Although the union is challenging the legality of the vote
\nand will probably appeal the court decision, any reversal would
\nlikely be some months down the line, with the tighter prompt
\nengendered by these strikes still likely to fade,” Credit Suisse
\nsaid in a research note on Thursday.<\/p>\n

<\/span><\/p>\n

“It’s all rather uncertain at present – unclear precisely
\nhow much tonnage has been lost and how much of the rally when
\nthe strikes began was due to sentiment,” one utility source
\nsaid.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* October DES trades unchanged at $93.50\/T * Colombia Fenoco unions yet to return to work LONDON Aug 16 (Reuters) – Physical European prompt coal prices were unchanged at around $93-$94 a tonne for a second day on Thursday as the market waited to see when Colombian shipments would resume and whether that would trigger […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-13585","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=13585"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13585\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}